TheStar
KUALA LUMPUR HwangDBS Investment Management Bhd (HwangDBS IM) declared annual income distributions of four sen for its Dana Fahim Fund and five sen for Dana Izdihar Fund.
It said on Monday the income distributions were for the two funds’ financial year ended Aug 31. The Dana Fahim Fund is an Islamic growth and income type fund while the Dana Izdihar Fund is an Islamic growth type fund.
The annual gross income distribution of four sen for Dana Fahim Fund’s FY Aug 31 was its third and final distribution since its launch on June 28, 2004.
The Dana Fahim Fund posted total growth of 22.96% on its NAV per unit since inception and all the unit holders registered as at Aug 22 were eligible for the income allotment.
HwangDBS IM also declared an annual gross income distribution of five sen for Dana Izdihar Fund’s FYAug 31. This is its sixth and final distribution since its launch in October 2002.
HwangDBS IM chief executive officer Teng Chee Wai said the Dana Izdihar Fund’s specific focus and favour for companies that practised good corporate governance had benefitted the Fund.
Teng said these securities generally command higher market valuation and would potentially yield better returns over a medium investment horizon.
As for Dana Fahim Fund, its focus would continue to provide investors an affordable access into a diversified investment portfolio containing a “balanced” mixture of quality Shariah-compliant equities and sukuk with similar attributes.
Teng said HwangDBS IM intended to maintain a defensive stance in the interim in-light of uncertainties prevailing in the local markets.
“Domestic equity portfolios will continue to hold a high level of cash holdings and the company will patiently wait for further clarity in local and regional markets before seeking to deploy cash into equities,” he said.
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